Securities regulators are still formulating new rules that would allow startups to use Kickstarter-like campaigns for equity crowdfunding. But in the meantime, a couple of investment groups have put together Internet crowdfunding platforms for people who qualify as accredited investors under existing law.
One of the crowdfunding portals, OpenRound, was unveiled last October by Roth Capital, the investment-banking firm based in Newport Beach, CA. So far Roth has used its new crowdfunding website to raise capital from accredited investors for two California startups—San Diego’s Mogl, which operates a Web-based restaurant rewards program, and Mountain View, CA-based Soasta, which provides cloud-based software used by developers to test their Web and mobile apps.
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